DuPont and Dow announced today that Brazil’s Administrative Council for Economic Defense (CADE) has granted conditional regulatory approval of their proposed merger.
CADE’s approval hinges on the divestment of a select portion of Dow’s corn seed business in Brazil, including some seed processing plants and seed research centers, a copy of Dow AgroSciences’ Brazilian corn germplasm bank, the Morgan brand and a license for the use of the Dow Seeds brand for a certain period of time.
Dow and DuPont are aiming to close the merger deal between August 1 and September 1. Within 18 months of that – based on stated plans — the merged entity will spin itself off into three separate public companies that will focus on agriculture, materials science and specialty products.
